Question: what is the answer for April 28th? Exercise 4-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the

Exercise 4-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method Apr. 2 Purchased $3,200 of merchandise from Lyon Company with credit tern of 2/15, 1/60, involce dated April 2, and POB shipping point. 3 Paid $300 cash for shipping charges on the April 2 purchase. Returned to Lyon Company unacceptable merchandise that had an invoiee price of $650. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased $5,700 of merchandise from Print Corp. with credit terms of 1/10, n/30, Invoice dated April 18, and Ton destination. 21 After negotiations, received from Trist a $600 allowance toward the $5,700 owed on the April 18 purchase. 28 Sent check to print paying for the April 18 purchase, net of the allowance and the discount. No Date Credit Answer is complete but not entirely correct. General Journal Merchandise inventory Accounts payable-.yon Debit 3,200 0 1 Apr 02 3,200 2 Apr 03 Merchandise inventory 300 olo Cash 300 3 Apr 04 Accounts payable-Lyon . 650 BER Accounts payable-Lyon 3,200 2 Apr 03 Merchandise inventory Cash 300 300 3 Apr 04 Accounts payable-Lyon Merchandise inventory 650 650 4 Apr 17 2,550 Accounts payable-Lyon Merchandise inventory Cash 51 2,499 5 Apr 18 Merchandise inventory Accounts payable Frist 5,700 5,700 6 Apr 21 Accounts payable-Frist Merchandise inventory 600 600 7 Apr 28 56,400 Accounts payable Frist Merchandise inventory Cash 58 X 55,836
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